"We conducted an extensive pilot program of the ClearTrial Study Costing & Optimization Service, and in every case were able to identify dramatic reductions in study costs and timelines, while ensuring that the studies were still achievable."
Chicago, IL (PRWEB) March 1, 2010
ClearTrial (http://www.cleartrial.com), the leading provider of Clinical Trial Operations (CTO) software, today unveiled the ClearTrial Study Costing & Optimization Service (SCOS), a turn-key, cost-effective service that provides greater visibility and control over clinical trial costs, resources, and timelines for smaller biopharma companies. The ClearTrial SCOS delivers a powerful combination of proven ClearTrial software -- used by the world’s leading biopharmaceutical, clinical research, and medical device organizations each day to improve efficiency and performance in clinical operations -- and ClearTrial’s Clinical Services personnel to bring greater speed and accuracy to clinical trial planning.
"Many smaller biopharma companies lack the visibility to accurately forecast clinical trials, leading to them not understanding how much clinical trials should really cost, as well as dealing with unforeseen shifts in trial timelines," noted Andrew Grygiel, Vice President of Marketing and Product Management for ClearTrial. "We conducted an extensive pilot program of the ClearTrial Study Costing & Optimization Service, and in every case were able to identify dramatic reductions in study costs and timelines, while ensuring that the studies were still achievable."
During the ClearTrial SCOS, a ClearTrial Clinical Services Manager (CSM) -- an expert in clinical development, outsourcing, and project management -- acts as a highly experienced extension of a company's internal clinical team. The ClearTrial CSM works with that team to fully understand the study's design, objectives, and clinical assumptions, then leverages the industry intelligence and activity-based planning methodology of the ClearTrial software to generate detailed and accurate cost, resource, and timeline reports for multiple study scenarios. These scenarios enable the ClearTrial CSM and the company's team to easily perform "what-if" analyses for cutting cost, time, or both from a study. According to recent accounts by ClearTrial customers, ClearTrial costing scenarios have been proven to deliver 1–5% accuracy when benchmarked against actual study costs.
The ClearTrial Study Costing & Optimization Service also provides sponsor/CRO negotiation leverage for additional cost savings. With a comprehensive inventory of clinical assumptions backing up monthly budget estimates, and projections for unit costs, unit hours, timeline projections, cash flows and recommended resource staffing, the ClearTrial SCOS arms clinical teams with the data they need to ensure a project is getting the attention and the budget it requires.
"As the cost and timeline pressures continue to grow, organizations large and small must ensure that their clinical trial dollars are being spent as effectively as possible," stated ClearTrial CEO Mike Soenen. "We're pleased to be able to help our industry achieve this goal by introducing the ClearTrial Study Costing & Optimization Service to the market."
ClearTrial is the leading provider of Clinical Trial Operations (CTO) software, linking clinical planning, forecasting, and tracking of operational and financial performance in a single, integrated system. ClearTrial’s award-winning software helps life sciences companies streamline their clinical operations from Plan to Payment™ without sacrificing quality of results, providing executives and functional leaders in clinical operations, resource planning, finance, outsourcing, and project management with a common platform that promotes speed, accuracy, and consistency throughout the organization. For more information please visit http://www.cleartrial.com.
ClearTrial® and the ClearTrial logo are registered trademarks owned by ClearTrial, LLC, which may be registered in certain jurisdictions. Any other company or product names mentioned in this release are hereby acknowledged as registered trademarks or trademarks of their respective owners.
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